Microeconomics IGCSE

2.7 Price elasticity of demand (PED)

PED measures the proportional change in quantity demanded for any change in price. Firms maximise revenue when the PED is unitary (-1). PED is always negative.

2.7 Price elasticity of demand (PED).pptx

Examiner's comments - PED

2.1 – 2.9 – How Markets WorkEconomy: an area where people and firms produce, trade and consume goods and services. This can vary in size- from your local town to your country, or the globe itself. Microeconomics and Macroecon…

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